Fox Business Network

Those terrifying sequester cuts sure haven't crippled America. This week in my syndicated column, I point out that if you look at all government spending, the sequester wasn't even a cut.

That may surprise you, since President Obama likened the sequester to taking a "meat cleaver" to government, causing FBI agents to be furloughed, prosecutors to let criminals escape and medical research to grind to a halt!

The truth is that the terrifying sequester cuts weren't even cuts. They were merely a small reduction in government's planned (SET ITAL) increase (END ITAL) in spending. A very small reduction.

And a reduction that doesn't even address our biggest problem: the coming bankruptcy of Medicare.

My fellow baby boomers and I rudely refuse to die, and we want all the cool new stuff modern medicine invents. We expect it to be free, or nearly free, through Medicare.

Unfortunately, there aren't enough young people to pay for what we'll collect from Medicare. Birth rates are falling. Young people in America now don't have enough babies to replace themselves, let alone enough to become workers to fund Medicare. Worse, many of those young people learned bad lessons from us baby boomers -- like how to be parasites.

One student from California State, Northridge told my viewers that his plan for the future is: "Beat the system -- take out a bunch of loans, and don't pay them back. ... What (else) are you going to do, work?"